Meet the Latest Quant ‘Newbie’

More evidence, ’twas it needed, which it ’twazznt, of the sad decline of the New York Post’s once sagacious business section.

Paul Tudor Jones’ trading firm Tudor Investment might be a newbie to trading mathematical- quant strategies but it has soared to the top of the sector through July 31 — beating out seasoned vets in the field, namely Goldman Sachs’ Global Equities Opportunities fund and Jim Simons’ RIEF quantitative hedge funds. [Emphasis added]

Didn’t “mathematical-quant strategies” play some small part in putting Mr. Jones in the Alpha magazine Hedge Fund Hall of Fame? Mr. Jones?

...When I got into the business, there was so little information on fundamentals, and what little information one could get was largely imperfect. We learned just to go with the chart. Why work when Mr. Market can do it for you? These days, there are many more deep intellectuals in the business, and that, coupled with the explosion of information on the Internet, creates the illusion that there is an explanation for everything and that the primary task is simply to find that explanation. As a result, technical analysis is at the bottom of the study list for many of the younger generation, particularly since the skill often requires them to close their eyes and trust the price action...

So mark these pixels as unsurprised that Tudor’s latest tapeworm, Steve Evans, and his nearly $1 billion Tensor fund, is up 18.9 per cent year-to-date. And even less surprised that the decline and fall of The Post’s business coverage, which began with the loss of microcap fraud manic Chris Byron in late 2006 and intensified when Roddy Boyd went to Fortune a year later, is on a trend that shows no sign of reversal. 

Tudor Jones' Black-Box Fund Figures on a Good 7 Months
by Teri Buhl
New York Post Aug. 24 2008

Paul Tudor Jones II
Alpha Hedge Fund Hall of Fame

Comments

[Medici:]

Is the Post anything more than entertainment? Or the "Star" on steroids....

2008 Aug 25 08:20 AM

[Jimmy Lathrop:]

John Crudele was carping on the run on oil stocks being caused by traders for a year, and no one listened. Then there was the run up, and the CFTC investigated and said, "Hey, the major producer we thought was an investor was acting like a speculator!" Meanwhile, we look back and see OPEC didn't increase or decrease production significantly and it was a trader-driven event. But he and Terry Keenan keep writing about things that affect people who can't afford auction rate securities or municipal bonds, which automatically makes them the "Star" on steroids? I disagree.

2008 Aug 25 01:42 PM